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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1583 |
Essay's paper body
The bills would take the place of coin and were to be a better and more profitable currency. The Mississippi Company was associated with the bank and took over many monopolies. As these monopolies were gained more bills were issued and the price of stock rose. The stock price rose enormously and so many bills were issued but there was not enough coin to back it...
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The stock price rose enormously and so many bills were issued but there was not enough coin to back it. This created a huge speculative trend based on the future land value of the France’s Louisiana Territory and Mississippi River. The scheme fell apart when people began to have doubt about it and wanted to exchange the bills for coin which did not exist...
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